Nova Measuring Instruments Ltd. (NASDAQ:NVMI) receives an average “buy” recommendation from analysts
Nova Measuring Instruments Ltd. (NASDAQ: NVMI) received an average “buy” recommendation from the eight analysts currently covering the stock, Marketbeat.com reports. One analyst rated the stock with a hold recommendation and six gave the company a buy recommendation. The 12-month average price target among brokerages that have reported on the stock over the past year is $127.71.
Several equity research analysts have recently released reports on the stock. Zacks Investment Research downgraded shares of Nova Measuring Instruments from a “strong buy” rating to a “hold” rating in a Wednesday, Jan. 5 research note. The benchmark raised its price target on Nova Measuring Instruments shares from $136.00 to $146.00 and gave the stock a “buy” rating in a Wednesday 17 research note. November. Needham & Company LLC raised its price target on shares of Nova Measuring Instruments from $135.00 to $150.00 and gave the stock a “buy” rating in a Wednesday, November 17 research note. Finally, Bank of America raised its price target on shares of Nova Measuring Instruments from $150.00 to $160.00 and gave the stock a “buy” rating in a Monday, January 10 research report.
Hedge funds and other institutional investors have recently been buying and selling shares of the company. Royal Bank of Canada increased its holdings of Nova Measuring Instruments shares by 26.7% in Q2. Royal Bank of Canada now owns 1,187 shares of the semiconductor company valued at $122,000 after buying an additional 250 shares during the period. Jennison Associates LLC acquired a new stock position in Nova Measuring Instruments in Q2, valued at approximately $252,000. Trexquant Investment LP acquired a new position in shares of Nova Measuring Instruments in Q2 worth approximately $339,000. Amundi acquired a new position in shares of Nova Measuring Instruments in Q2 worth approximately $393,000. Finally, Paloma Partners Management Co acquired a new position in shares of Nova Measuring Instruments in Q2 worth approximately $431,000. 68.11% of the shares are held by institutional investors and hedge funds.
NASDAQ: NVMI opened at $116.83 on Tuesday. Nova Measuring Instruments has a 12-month low of $69.46 and a 12-month high of $149.15. The company has a market capitalization of $3.33 billion, a price/earnings ratio of 40.85, a PEG ratio of 1.11 and a beta of 1.07. The company’s fifty-day simple moving average is $133.10 and its 200-day simple moving average is $113.19.
Nova Measuring Instruments Inc (NASDAQ:NVMI) last released its quarterly results on Thursday, November 4. The semiconductor company reported earnings per share (EPS) of $1.16 for the quarter, beating Thomson Reuters consensus estimate of $0.92 by $0.24. Nova Measuring Instruments posted a net margin of 22.79% and a return on equity of 22.05%. The company posted revenue of $112.70 million for the quarter, versus a consensus estimate of $102.81 million. In the same quarter a year earlier, the company posted EPS of $0.52. The company’s quarterly revenue increased 62.2% year over year. Equity research analysts expect Nova Measuring Instruments to post EPS of 3.55 for the current year.
About Nova Meters
Nova Ltd. engages in providing metrology solutions for the semiconductor manufacturing industry. Its products and services include dimensional metrology, online materials metrology for semiconductor manufacturing and software modeling. The company was founded by Giora Dishon and Moshe Finarov in May 1993 and is headquartered in Rehovot, Israel.
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